|
Frequently Asked Questions about Greater Checking
Greater Checking Benefits
Earn higher dividends and get ATM refunds with a Greater Checking Account
Is there a Service Charge for Greater Checking?
- There is never a service charge for Greater Checking.
- It is always a free account.
What are the "Rewards" for Greater Checking?
- 5.00% APY interest for balances up to $50,000 and 0.65% APY on the remaining balance over $50,000
- Nationwide ATM fee refunds.
What are the requirements that must be met to qualify for the rewards?
- Receive eStatements
- 1 Direct Deposit or ACH Auto Debit
- 12 Visa Debit Card Purchases
- To receive an eStatement member will need to access online banking
How often must the requirements be met to qualify for the rewards?
- Each statement cycle. Cycle begins one day prior to the current statement and ends the next to the last day of the following month. (ex. May 31 - June 29 for June statement)
What happens if the requirements for Greater Checking are not met?
- You will receive 0.10% APY interest and your ATM Fees will not be refunded.
Can the interest rate on my Greater Checking account change?
- Yes - this is a variable rate and can change at any time.
- This is true for all of our checking accounts.
Is this just a "teaser" rate?
- No - All Members with this account receive the same interest reward.
How is the interest calculated?
- The rate is calculated daily and paid monthly.
If I meet the requirements, when will I receive my rewards?
- On the last day of each statement cycle.
If I use another bank's ATM and pay a fee, when will I get my credit?
- If all requirements are met, the ATM fees will be credited at the end of the statement cycle in which the ATM fees were charged.
- There is no limit to the amount.
Do I have to do anything in order to get my ATM refund?
- No. If all requirements are met, earned refunds will automatically be placed into your checking account.
How will I know that I have qualified for my rewards at the end of the statement cycle?
- An e-mail will be sent letting you know if you qualified for the rewards.
- An e-mail will also be sent letting you know if you did not qualify for the rewards and why.
Will Greater Checking Members receive a 1099 at the end of the year reflecting interest earned over the year?
- If the total Interest earned on the account is $10.00 or greater a 1099 will be sent.
Are fees refunded on ATMs used internationally?
If my account balance goes negative, will I still be able to qualify for my rewards during that statement cycle?
- As long as the requirements are met you will receive your rewards.
If I fail to meet the requirements during this statement cycle, can I still have a chance to qualify during the next statement cycle?
- Yes, all requirements start over at the beginning of each statement cycle.
What if my new Debit Card doesn't arrive until late in the statement cycle and I don't have time to earn my rewards, will I still get them?
- New checking accounts will automatically get rewards for the 1st statement cycle.
- This will give you time to get your card and start using it for the next statement cycle.
If I miss my requirements by only one Debit Card transaction, can I call in and get my interest and ATM refunds anyway?
- No, all requirements must be met in order to receive the rewards.
Statement Cycle
Will all Greater Checking Members be on the same statement cycle?
If an existing Member is moved to a Greater Checking account, will his/her statement cycle change?
- Yes but only by a day or 2.
Debit Card Transactions
If I use my Debit Card at an ATM, will that transaction count toward my requirements?
- No, the required Debit Card transactions must be a point of sale purchase to count toward the requirements.
May I "carry forward" Debit Card transactions in excess of the required number to the next statement cycle?
- No, at the start of each cycle all the requirements for the rewards start over.
Will the transactions from this statement cycle on my old account count toward the required transactions for this statement cycle on my Greater Checking account?
- No, the requirements must be done on the Greater Checking account.
- However, as the first cycle is automatically paid, it does not matter.
eStatement Requirements
Must I open my eStatement in order to qualify for the rewards?
Do I receive check images with my Greater Checking account?
- No but check images are available through eBranch.
What if I need a printed copy of my statement and/or check images?
- A statement can be printed from eBranch.
- A check image can be printed through eBranch for 90 days.
- If a check image is needed for a time period prior to that, a member can submit a request for a copy through Research Request by contacting the MRC (Member Resource Center), Secure Messaging, or by visiting a branch.
How long will my statements be available on-line?
- Statements are available for up to 12 months.
Account Limits
Is there a limit on the amount of money I can keep in my Greater Checking account?
- No, you can keep as much as you want in the account.
Is there a minimum balance requirement in order to receive my rewards?
- There is no minimum balance requirement in order to receive rewards.
What is the minimum opening deposit for a Greater Checking account?
- There is no minimum dollar amount to open an account.
Opening/Converting Accounts
Is overdraft protection available for Greater Checking?
Will I be able to use my existing Debit Card, checks, and account number with my new Greater Checking account?
How do I convert my current checking account to Greater Checking?
- All you need to do is see one of our well trained New Account Representatives.
Can I open multiple Greater Checking accounts for the same address?
- Multiple accounts can be opened at the same address.
Can multiple people use the same Greater Checking account?
- Anyone who is listed on the account may use the Greater Checking account.
Is there a limit on the number or kind of transactions you can do on a Greater Checking account?
- There is no limit on the number or kind of transactions you can do on a Greater Checking account.
|
